THE RISE IN WOOL

New Zealand Herald, Volume LXXII, Issue 22205, 4 September 1935, Page 7

THE RISE IN WOOL

A HOPEFUL OUTLOOK r 1 SHCIRTE-R MERINO SUPPLY MARKET FOR CROSSBREDS Australia's wool-selling seasorf- has opened under distinctly favourable conditions and the present state of the trade suggests that Xew Zealand growers may confidently expect higher prices in tlit! coming season. A factor which favours a successful selling year in Australia is the shortage in the visible supply of Merino wool. Australia and South Africa are the chief suppliers of Merino wool. In Australia the clip for the current season is estimated at 2,930,000 bales, the smallest recorded for five years. The quantity grown in South Africa is less by about 300,000 bales and for both - countries there is a reduction'of about 576,000 bales on the 1932-33 season, which was the peak year in Australia. The shortage in Merino wool will probably result in keen competition for available supplies and the maintenance of higher prices throughout the season. Merino nnd crossbred wools have their separate uses and it does not follow that New Zealand, which is a crossbred grower chiefly, will benefit to the same extent as Australia. However, it is likely that erossbreds will be used more extensively in order to keep the prime cost of manufactured fabrics within limits. In the past five months medium crossbred tops have advanced only 15 per cent, compared with a 30 per cent rise in Merinos. This may : be due to the fact that manufacturers ! have been able to secure relatively cheap i crossbred wools in South America. Howi ever, any formidable rise in Merino I wool is bound to cause a swing-over to ! erossbreds, with a consequent rise in 5 prices for erossbreds. There is no present fear that wooi ; will not continue to find a market. In \ | spite of artificial fibres, it is claimed that wool still remains the most desir- \ able textile fabric for general use.

FIIIM SYDNEY MARKET STRONG COMPETITION —y (Received September 3, 8.25 p.m.) SYDNEY, Sept. 3 At the Sydney wool sales to-day 12,216 hales were offered and 11,379 were sold. Also 5011 balen were sold privately. Strong competition was forthcoming from the Japanese," Continental' and Yorkshire sections of the trade, with good support from local users. Values were fully firm at the opening day's rates. Greasy Merino fleece sold to 21id> BRADFORD TOPS QUOTATIONS RAISED LONDON. Sept. 3 On the Bradford tops market business is restricted. Following the advances at Sydney, topmak&rs have protectively raised quotations. EMBARGO ON ORANGES AUSTRALIA SEEKS REMOVAL REOPENING NEGOTIATIONS In view of the return; to New Zealand of the Minister of Finance. Air. Contes, the Australian Federal Citrus Council has decided to urge the Federal Government to reopen _negotiations for the removal of the New Zealand embargo on citrus imports from Victoria and New South. Wales. The secretary of the council, Mr. A. W. Schwennesenn, said last week that supplies from South Austrsilia, which was the only State from which, exports of oranges were accepted, would decrease as the season advanced. There was, however, sufficient supply available in Victoria and New South Wales to satisfy the market in New Zealand to the end! of the season. -?